About:
The next KE Hub online Triage Workshop will be presented by Datasparq.
Evaluating performance of pricing models for constrained products with finite selling periods
In industries where products expire after a long selling period, often spanning 100 days or more, evaluating the impact of a new pricing strategy is particularly challenging due to fluctuating, seasonal patterns of demand across the extended sales cycle. Traditional A/B testing or other conventional methods of evaluation would typically require waiting for the entire sales period to complete before drawing conclusions, which can be a significant disadvantage when rapid feedback is necessary to optimise strategy and improve performance. An extended test can be undesirable and costly for the business if the strategy underperforms.
How can we develop an efficient evaluation framework that provides an accurate assessment of a pricing strategy’s effectiveness in the shortest time possible?
Academic mathematical scientists from KE Hub partner university departments are invited to take part in these workshops. If you would like to attend, please contact your local KE Champion to receive the meeting link or get in touch with the organisers, Lauren Hyndman and Diwei Zhou.
KE Hub Triage Workshops are informal discussion sessions where one B.I.G. Partner presents a challenge they are currently facing, with the aim of determining:
- What, if any, mathematical sciences approaches can be used to address the challenge?
- Who from the mathematical sciences community would like to take on the challenge?
- What mechanisms are most appropriate for driving the challenge forward?
The purpose of these workshops is to allow the B.I.G. Partner to engage directly with academic mathematical scientists to probe the scientific content of their proposed challenge. The environment is relaxed and interactive, and we encourage questions, clarifications and discussions throughout. You can find information on all upcoming and past workshops here.